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- Zafar Naik
Zafar Naik
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jul 23, 2025 10:36 UTC
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SEC Begins Review of SUI ETF Proposal, Analysts Predict Price Surge
SEC begins formal review of Canary Capital’s spot SUI ETF application.
SUI futures open interest hits $1.2B, signaling strong market momentum.
Analysts see potential breakout if price clears $4.00, with targets up to $6.
The U.S. SEC has officially kicked off its review of Canary Capital’s spot SUI ETF, marking a major development in the token’s journey toward broader market exposure. The application has now entered the “institution of proceedings” phase, which is a formal step that puts it on the regulator’s radar after months of delay.
This move doesn’t mean approval is guaranteed, but it signals that the SEC is now taking the proposal seriously. And in crypto, timing is everything!
ETF Interest Grows – 21Shares Joins the Game
Canary isn’t the only one eyeing a SUI ETF. Asset manager 21Shares has also filed its own proposal, partnering directly with the Sui Network to expand institutional access.
While both applications are still under review, the back-to-back filings suggest growing confidence around SUI’s potential to enter the ETF space, something few altcoins have managed to do so far.
Already in the Big League: Bitwise Adds SUI
SUI has also made it into the Bitwise Crypto Index ETF, which is a fund that includes top tokens like Bitcoin, Ethereum, and XRP. Though that ETF hasn’t launched yet, SUI’s inclusion is a strong signal that institutional interest is building fast.
Futures Data Points to Bullish Momentum
The numbers back it up. According to Glassnode, SUI’s open interest in the futures market has climbed to a record $1.2 billion – making it the sixth-largest crypto by futures OI, just behind Bitcoin, Ethereum, Solana, XRP, and DOGE.
Price Levels to Watch: $4.00 Is Key
SUI is currently trading near $3.95, holding above its 200-day moving average of $2.73. Its RSI is sitting around 66, a level that suggests strength but still leaves room to climb.
Crypto analyst Scient believes SUI is “forming a new base” and could see a fresh move in August. If it clears the $4.00 resistance zone, targets between $4.20 and $5.00 are in play. And if the ETF gains approval, a run toward $5.5 to $6.00 wouldn’t be out of the question.
What’s Next for SUI?
This is a key moment for the Sui ecosystem. With not one but two ETF filings in motion, strong technicals, and rising futures activity, SUI is drawing real attention from both institutions and retail traders.
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The SEC’s next steps could set the tone for what comes next. We’ll keep you updated!
FAQs
The SEC has entered the formal “institution of proceedings” review stage for Canary’s spot SUI ETF application.
SUI futures open interest is at a record $1.2 billion, ranking it sixth among cryptos.
Analysts say SEC review marks serious consideration; approval could surge interest—especially with two ETFs in play.
Yes 
No 
